NJ | On January 16, 2024 P.L.2023, c. 276 (the “Act”) was signed into law. The Act amended existing law to increase the minimum limits of liability insurance coverage that must be maintained by owners and/or operators of commercial motor vehicles registered or principally garaged (i.e., “based-plated” or “at home”) in New Jersey engaged in intrastate commerce. The Department of Banking and Insurance (the “Department”) is issuing this Bulletin to remind insurers of their obligations pursuant to the Act as set forth below.
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